Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.
| State: | Illinois |
| Effected Jurisdiction: | Illinois |
Jurisdiction type: | State |
| Fiscal year ending In: | 2020 |
| Program name: | Economic Development for a Growing Economy (EDGE) |
| Program purpose: | General Economic Development |
| Statutory authority: | 35 ILCS 10 |
| Abating jurisdiction(s): | State of Illinois |
| Applicable taxes: | Income Tax |
| Method of abatement: | Tax Credit |
| Provisions for recapture: | If, during the term of the agreement, the project is moved from the State or otherwise ceased, the State can recapture the abated tax requiring the taxpayer to repay the full value of the credit previously claimed. |
| Gross revenue loss: | $147,000,000 |
| Reimbursement / offset: | $0 |
| Net revenue loss: | $147,000,000 |
| Type of loss: | Active |
| Additional notes on dislosure: | Reduced amounts shared with local governments by $8.4 million |
| Document source: | http://www.auditor.illinois.gov/audit-reports/Comptroller-Internal-Contr... |
